Marginal Field Delivery Consortium: Collaborating to Maximise Economic Recovery

Speaking at the opening of OGUK’s annual conference, CEO Deidre Michie issued a challenge to the UK offshore oil and gas industry to become ‘sustainable in a $60 world’, a price at which 10% of all current production in the UKCS fails to breaks even.

Cost escalation of almost 20% per annum over the last decade and the subsequent fall in oil prices have increased the minimum economic field size, meaning that even greater numbers of fields are now considered to be sub-economic or ‘marginal’ using conventional development methods.

Click here to launch the full article in PDF.